Bank Statement Loan
Qualify on what comes into your account
When you work for yourself, your tax returns show far less than you actually earn because deductions bring the number down. This program looks at your account deposits instead of your tax returns.
- Down from
- 10%
- Minimum score
- 620
- Documentation
- Bank statements
What sets it apart
- The lender reviews 12 or 24 months of statements, personal or business
- No tax returns and no W2 forms required
- You need two years of business operating history
- The down payment starts at 10% depending on your score and how many months get reviewed
Who it is for
Contractors, business owners and independent workers with steady deposits.
Does this sound like your situation?
Prequalify in three minutes and we will confirm whether this is the right program for you or which one suits you better.
Prequalify for this programOther programs
ITIN and DACA Loan
Buy a home without a Social Security number
If you file taxes with an ITIN or you hold DACA status, you can buy a home. These loans do not come from the government but from banks that accept your ITIN as valid tax identification.
Profit and Loss Loan
One document from your accountant
This one is built for business owners whose real income never shows up on their tax returns. You qualify with a profit and loss statement prepared by an accountant and no bank statements get reviewed.
Employment Verification Loan
Just one signature from your employer
This is the shortest process available for a salaried employee. The lender verifies your job directly with the company and asks you for no other income document.
Electi Financial Solutions manages and supports your financing application. Loans are originated and funded by our lending partner under its own NMLS license. Electi is not a bank or a lending institution.
The figures shown are general parameters of each program and do not constitute a loan offer or a commitment to lend. Down payment, score and documentation requirements are set by the lender and vary based on your profile, the property and market conditions. All approvals are subject to full underwriting.
Equal Housing Opportunity. We comply with the Fair Housing Act and with the Equal Credit Opportunity Act.